Title 36 — Title 36 — Insurance

36 O.S. § 2733 Repealed by Laws 1992, c. 76, § 39, eff. Jan. 1, 1993

A. Agents of societies shall be licensed in accordance with the provisions of Article 14A of the Insurance Code regulating the licensing, revocation, suspension or termination of licenses of resident and nonresident agents; provided, no examination shall be required of any such a…

36 O.S. § 2734 Repealed by Laws 1992, c. 76, § 39, eff. Jan. 1, 1993

Frauds. Every society authorized to do business in this state shall be subject to Article 12 of the Insurance Code, Unfair Practices and Frauds. Provided, however, nothing in such provisions shall be construed as applying to or affecting the right of any society to determine its …

36 O.S. § 2735 Repealed by Laws 1992, c. 76, § 39, eff. Jan. 1, 1993

A. Every society authorized to do business in this state shall appoint in writing the Insurance Commissioner and each successor in office to be its true and lawful attorney upon whom all lawful process in any action or proceeding against it shall be served, and shall agree in wri…

36 O.S. § 2736 Repealed by Laws 1992, c. 76, § 39, eff. Jan. 1, 1993

1997.

36 O.S. § 2737 Repealed by Laws 1992, c. 76, § 39, eff. Jan. 1, 1993

A. Any person who willfully makes a false or fraudulent statement in or relating to an application for membership or for the purpose of obtaining money from or a benefit in any society, upon conviction, shall be guilty of a misdemeanor, punishable by a fine of not less than One H…

36 O.S. § 2738 Repealed by Laws 1992, c. 76, § 39, eff. Jan. 1, 1993

A. Nothing contained in this article shall be so construed as to affect or apply to: 1. Grand or subordinate lodges of societies, orders or associations now doing business in this state which provide benefits exclusively through local or subordinate lodges; 2. Orders, societies o…

36 O.S. § 2739 Repealed by Laws 1992, c. 76, § 39, eff. Jan. 1, 1993

36 O.S. § 2740 Repealed by Laws 1992, c. 76, § 39, eff. Jan. 1, 1993

36 O.S. § 2741 Repealed by Laws 1992, c. 76, § 39, eff. Jan. 1, 1993

36 O.S. § 2742 Repealed by Laws 1992, c. 76, § 39, eff. Jan. 1, 1993

36 O.S. § 2743 Repealed by Laws 1992, c. 76, § 39, eff. Jan. 1, 1993

36 O.S. § 2744 Repealed by Laws 1992, c. 76, § 39, eff. Jan. 1, 1993

36 O.S. § 2745 Repealed by Laws 1992, c. 76, § 39, eff. Jan. 1, 1993

36 O.S. § 2746 Repealed by Laws 1992, c. 76, § 39, eff. Jan. 1, 1993

assessments. Any fifty or more persons of lawful age, who shall be resident, bona fide farmers, and collectively shall own property of not less than Twenty-five Thousand Dollars ($25,000.00), which they desire to have insured, may associate themselves together for the purpose of …

Such persons shall make and subscribe to a certificate setting forth therein: First. The name by which the association shall be known. Second. A central office or business address. Third. That the object of the association shall be only the one contemplated in this article. Fourt…

terms. Such certificate shall be filed with the Insurance Commissioner, and a certified copy thereof signed by the Insurance Commissioner shall be evidence of the due incorporation and existence of such association for the purpose therein named, whereupon, the persons named in su…

Every such association shall be a body corporate for said purposes, and may sue and be sued and be vested with legal rights and powers in like manner as other corporations of this state. Laws 1957, p. 353, § 2804.

Every such association shall not insure other than its own members; issue capital stock or have any capitalization whatsoever; be run or conducted for profit to any member or person whomsoever; pay any salary or compensation to its president, secretary, treasurer, board of direct…

Every such association shall adopt such bylaws not inconsistent with the laws of this state and of the United States, which, in the judgment of its members will best subserve the interests and purposes of the association. The members of every such association shall be held by the…

After any such association is organized and has commenced business, its membership shall be composed of its policyholders only, and every person accepted as insurable shall be ipso facto a member. Noncompliance with the bylaws and nonpayment of assessments within thirty days afte…

The board of directors shall have the right and power to reject any person, or any risk or part thereof; also to terminate any membership and any insurance, or part of any insurance, at any time, upon ten days notice to such member. Laws 1957, p. 353, § 2808.

The bylaws shall provide for sufficient assessment to pay for stationery, blanks, printing, postage, viewing and appraising losses, and such other incidental expenses as may be necessary to conduct the business of such association. Laws 1957, p. 353, § 2809.

Compensation of officers shall be as provided in the bylaws, and shall not exceed the sum of Ten Thousand Dollars ($10,000.00) per annum for the president. Compensation of other officers and employees shall be fixed by the board of directors at a reasonable amount for services re…

certificate; fees. Every such association shall annually, on or before March first, render a statement in writing to the Insurance Commissioner, showing the status of such company at the close of business on December 31st, next preceding; the names and addresses of its officers; …

Nothing in this article shall prevent the membership of any association from being extended from one county to another provided the said county into which said membership is extended shall not cover a territory greater than forty-five counties, nor shall anything in this article …

The provisions of this article apply only to farmers' mutual fire insurance associations and such associations shall be governed by this article to the extent provided herein. Such associations shall comply with all provisions of the Insurance Code to the extent that such provisi…

No farmers' mutual fire insurance associations shall be formed after the effective date of this act, nor shall the Insurance Commissioner after said effective date issue a permit to organize such an association to or approve any articles of incorporation of any group of individua…

authority, or articles. No certificate, or authority, or articles of incorporation of a farmers' mutual fire insurance association shall be transferred, sold, or otherwise exchanged or traded. Laws 1963, c. 120, § 6, emerg. eff. June 3, 1963.

"Reciprocal" insurance is that resulting from an inter-exchange among persons, known as "subscribers," of reciprocal agreement of indemnity, the inter-exchange being effectuated through an "attorney-in-fact" common to all such persons. Laws 1957, p. 354, § 2901.

A "reciprocal insurer" means an unincorporated aggregation of subscribers operating individually and collectively through an attorney-in-fact to provide reciprocal insurance among themselves. Laws 1957, p. 354, § 2902.

A. All authorized reciprocal insurers shall be governed by those sections of this article not expressly made applicable to domestic reciprocals only. B. To the extent not modified by the provisions of this article, reciprocal insurers shall be subject to and governed by the other…

A. A reciprocal insurer may, upon qualifying therefor as provided for by this Code, transact any kind or kinds of insurance defined by this Code, other than life or title insurance. B. Such an insurer may purchase reinsurance upon the risk of any subscriber, and may grant reinsur…

A reciprocal insurer shall: 1. Have and use a business name. The name shall include the word "reciprocal," or "interinsurer," or "inter-insurance," or "exchange," or "underwriters," or "underwriting." 2. Sue and be sued in its own name. Laws 1957, p. 355, § 2905.

A. "Attorney," as used in this article refers to the attorney- in-fact of a reciprocal insurer. The attorney may be an individual, firm, or corporation. B. The attorney of a foreign or alien reciprocal insurer, which insurer is duly authorized to transact insurance in this state,…

A. A domestic reciprocal insurer hereunder formed, if it has otherwise complied with the provisions of this Code, may be authorized to transact insurance if it deposits and maintains on deposit with the State Treasurer, through the office of the Insurance Commissioner, surplus fu…

A. Two or more persons domiciled in Oklahoma may organize a domestic reciprocal insurer and make application to the Insurance Commissioner for a certificate of authority to transact insurance. B. The proposed attorney shall fulfill the requirements of and shall execute and file w…

A. The certificate of authority of a reciprocal insurer shall be issued to its attorney in the name of the insurer. B. The Insurance Commissioner may refuse, suspend, or revoke the certificate of authority, in addition to other grounds therefor, for failure to comply with any pro…

A. The rights and powers of the attorney of a reciprocal insurer shall be as provided in the power of attorney given it by the subscribers. B. The power of attorney must set forth: 1. The powers of the attorney; 2. That the attorney is empowered to accept service of process on be…

Modification of the terms of the subscribers' agreement or of the power of attorney of a domestic reciprocal insurer shall be made jointly by the attorney and the subscribers' advisory committee. No such modification shall be effective retroactively, nor as to any insurance contr…

A. Concurrently with the filing of the declaration provided for in Section 2908 of this article, the attorney of a domestic reciprocal insurer shall file with the Insurance Commissioner a bond in favor of the State of Oklahoma for the benefit of all persons damaged as a result of…

In lieu of such bond, the attorney may maintain on deposit with the State Treasurer through the office of the Insurance Commissioner a like amount in cash or in value of securities qualified under this Code as insurers' investments, and subject to the same conditions as the bond.…

Action on the attorney's bond or to recover against any such deposit made in lieu thereof may be brought at any time by one or more subscribers suffering loss through a violation of its conditions, or by a receiver or liquidator of the insurer. Amounts recovered on the bond shall…

A. Legal process shall be served upon a domestic reciprocal insurer by serving the insurer's attorney at his principal offices. B. Any judgment based upon legal process so properly served shall be binding upon each of the insurer's subscribers as their respective interests may ap…